Mol Struggles To Swim Upstream

摘要

Hungarian oil and gas company MOL vows it will continue an active acquisitions policy in 2008, but says the environment for this is tough - especially in the upstream exploration and production segment, where competition for is fierce for assets that are increasingly scarce. "We need acquisitions, both upstream and downstream," MOL CEO Gyorgy Mosonyi said February 15 following the release of the company's full-year financial results. MOL's main focus will continue to be on possibilities to increase its 25% strategic stake in Croatia's INA.rnMosonyi also promised acquisitions to bolster MOL's upstream business. While declining to discuss specific targets, he mentioned Russia, Pakistan, western Africa, India and Libya as countries where MOL is currently exploring opportunities. "I can't name any specifics, but there will be acquisitions this year - several, we hope."